Meaning of “associate"U.K.
50(1)In this Schedule “associate”, in relation to a person, means—
(a)any relative or partner of that person,
(b)the trustee or trustees of any settlement in relation to which that person, or any relative of his (living or dead), is or was a settlor, and
(c)where that person is interested in any shares or obligations of a company which are subject to any trust or are part of the estate of a deceased person—
(i)the trustee or trustees of the settlement concerned or, as the case may be, the personal representatives of the deceased, and
(ii)if that person is a company, any other company interested in those shares or obligations.
(2)In sub-paragraph (1)(a) and (b) “relative” means [F1spouse or civil partner], parent or remoter forebear or child or remoter issue.
(3)In sub-paragraph (1)(b) “settlor” and “settlement” have the same meaning as in [F2Chapter 5 of Part 5 of the Income Tax (Trading and Other Income) Act 2005 (see section 620 of that Act)].
Textual Amendments
F1Words in Sch. 16 para. 50(2) substituted (5.12.2005) by The Tax and Civil Partnership Regulations 2005 (S.I. 2005/3229), regs. 1(1), 135
F2Words in Sch. 16 para. 50(3) substituted (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 577(3) (with Sch. 2)
Commencement Information
I1Sch. 16 para. 50 in force at 23.1.2003 by S.I. 2003/88, arts. 2, 3